PWP Forward Acquisition I, a blank check company backed by Perella Weinberg targeting women-forward companies, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-fifth of a warrant, exercisable at $11.50. At the proposed deal size, PWP Forward Acquisition I will command a market value of $250 million.
The company is led by CEO and Director Stacia Ryan, who currently serves as Partner and Co-Head of the Consumer Retail Group at Perella Weinberg. She is joined by Chairman Joseph Perella, who founded PWP in 2006 and served as CEO until 2014. PWP Forward Acquisition I is focused on improving access to public financing for companies that are founded by, led by, or enrich the lives of women, also referred to as “Women-Forward Companies”.
PWP Forward Acquisition I was founded in 2020 and plans to list on the Nasdaq under the symbol FRWAU. It filed confidentially on January 22, 2021. Citi is the sole bookrunner on the deal.
